IPDC Finance, the first NBFI of the country, has recently won Fintech Innovation of The Year (NBFI) in The Bangladesh Fintech Award.
This category represents the most innovative uses of technology that have a significant impact on product and service dimensions of Non-Banking Financial Institutions.
The award was presented to the Additional Managing Director, Rizwan Dawood Shams, and Head of Strategic Initiative, M Solaiman Sarwar on 27 November at Sheraton hotel, Dhaka, reads a press release.
Mominul Islam, managing director of IPDC Finance said, "For any industry, the key factor for success is reaching the segments of customers that remain underserved. With the majority of the micro-merchants being underbanked or unbanked, IPDC found its ground for timely technological innovation. Retailers from remote areas who were out of financial inclusion are given access to finance under the DANA platform to enrich their business."
IPDC's Dana provides easy, accessible, transaction-based working capital for retailers to facilitate financing in a low-cost, collateral-free, and structured manner. This automation of credit processes is a much-needed initiative to help the vast network of micro and small retailers across the country.